Trade Report: Today, Cascadian Therapeutics Inc. (CASC) Stock Rating Upgrade by The Zacks Investment Research

Today, Cascadian Therapeutics Inc. (CASC) Stock Rating Upgrade by The Zacks Investment Research

Cascadian Therapeutics Inc. (NASDAQ:CASC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday.

According to Zacks, “Cascadian Therapeutics, Inc. is a biopharmaceutical company specializing in developing innovative therapeutic product candidates for the treatment of cancer. The company’s product candidate is ONT-380, an orally active and selective small molecule HER2 inhibitor which is in preclinical trial stage. Cascadian Therapeutics, Inc., formerly known as Oncothyreon Inc., is headquartered in Seattle, Washington. “

CASC has been the topic of a number of other research reports. Cowen and Company reissued a “buy” rating on shares of Cascadian Therapeutics in a report on Monday, October 10th. Jefferies Group reissued a “buy” rating and set a $3.00 price target on shares of Cascadian Therapeutics in a report on Tuesday, November 8th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Cascadian Therapeutics presently has an average rating of “Buy” and a consensus target price of $3.00.

Shares of Cascadian Therapeutics (NASDAQ:CASC) opened at 5.82 on Friday. The firm’s 50-day moving average price is $1.14 and its 200 day moving average price is $1.16. Cascadian Therapeutics has a 1-year low of $0.82 and a 1-year high of $3.75. The stock’s market capitalization is $787.50 million.

Cascadian Therapeutics (NASDAQ:CASC) last released its quarterly earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by $0.01. Equities research analysts expect that Cascadian Therapeutics will post $5.02 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in the stock. Susquehanna International Group LLP increased its stake in shares of Cascadian Therapeutics by 944.4% in the third quarter. Susquehanna International Group LLP now owns 250,788 shares of the biopharmaceutical company’s stock worth $411,000 after buying an additional 280,488 shares during the last quarter. KCG Holdings Inc. increased its stake in shares of Cascadian Therapeutics by 204.6% in the third quarter. KCG Holdings Inc. now owns 137,775 shares of the biopharmaceutical company’s stock worth $226,000 after buying an additional 92,549 shares during the last quarter. Northern Trust Corp increased its stake in Cascadian Therapeutics by 23.3% in the third quarter. Northern Trust Corp now owns 162,455 shares of the biopharmaceutical company’s stock worth $267,000 after buying an additional 30,744 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Cascadian Therapeutics by 1.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,849,475 shares of the biopharmaceutical company’s stock worth $3,033,000 after buying an additional 23,406 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in Cascadian Therapeutics by 20.3% in the third quarter. ProShare Advisors LLC now owns 85,070 shares of the biopharmaceutical company’s stock worth $140,000 after buying an additional 14,378 shares during the last quarter. Hedge funds and other institutional investors own 64.18% of the company’s stock.

Cascadian Therapeutics Company Profile

Cascadian Therapeutics, Inc, formerly Oncothyreon Inc, is a clinical-stage biopharmaceutical company. The Company focuses on the development of therapeutic products for the treatment of cancer. The Company’s clinical-stage product candidate includes ONT-380, an orally active and selective small-molecule human epidermal growth factor receptor (HER) 2 inhibitor.

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